dissolution of the firm and
distribution of assets of the firm by the firm to its partners.
38. Dissolution and retirement are two different concepts ... case of dissolution of the firm the firm as such no
more exists and the dissolution is between all the partners of the firm
firm. As far as the retiring partners
were concerned, their association with the partnership firm came to an end.
2.5 The reconstituted firm carried ... dissolution of the partnership
firm.
5.1 The genuineness of the formation of the partnership firm and its
dissolution was not disputed by the Revenue. Therefore
firm.
The return filed by the firm for the assessment year 1995-
1996 was of the reconstituted firm and not of the old firm ... date of
dissolution or retirement after a deduction of liabilities
and other prior charges. Dissolution of a firm must, in
point of time, be anterior
firm on account of sub-lease agreement entered into by M/s. Atco Industries Ltd. with the appellant-firm. As far as the dissolution ... firm.
(ii) Such capital asset should have been transferred from the firm.
(iii) Such transfer should take place on the dissolution of the firm
position it is difficult to accept the contention that upon
dissolution the firm's rights in the partnership assets are extinguished. The
firm ... accounts
and discharging the debts and liabilities due by the firm. Upon dissolution
the firm ceases to exist, then follows the making up of accounts
Mehra chose to retire from the firm. Consequently, the
firm was dissolved. A dissolution deed dated 10.11.1979 appears to have been drawn
up, a copy ... This business, the firm had been carrying on since
1949. However, by a deed dated 26.3.1960, the firm was reconstituted. The firm‟s
accounts
Right of partners to have business wound up after dissolution. On
the dissolution of a firm every partner or his representative, is
entitled as against ... dissolved firm and it was sold by the assessee firm on
27-03-2003. The law is well settled that the firm in the eyes
1973 and the
appellant was one of the partners of the firm. The firm was dissolved
in 1979. M/s. Elrex Corporation became the proprietorship ... late husband by way of distribution of assets
on dissolution of firm. The inability of the legal heir in collecting and
filing such direct evidence
Section 45(4) of the Act, distribution of capital asset or dissolution of
firm or otherwise was a "Transfer" and the profit ... firm or on
retirement from the firm to get the value of his share in the net partnership asset as on the date of dissolution
copy of dissolution
deed available at pages 3 to 6 of the APB, it is clear that the
deed mentions dissolution of firm ... under the deed of dissolution, one partner took over
the land and factory building of the assessee after dissolution of
firm while the second partner
